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2012 Pender Island Assessments – A quick analysis

By Howard Sanders • January 16th, 2012

Most of us have received our 2012 assessments in the mail by now so I thought I would do a quick analysis of the trends these new assessments show.

To do this I looked at 10 random assessments in each property category from low price to high. It’s not a definitive analysis but is good enough to highlight certain trends that may affect the local real estate market this year. So, on to the results:

Single Family Residences

Oceanfront — +4.32% (Min 0.00% Max 9.41%)
Lakefront — -4.08% (Min -2.99% Max -5.90%)
Ocean View — -2.73% (Min – 12.72 Max + 12.21)
Non-view — -4.85% (Min -12.61% Max -0.32%)

Lots and Acreages

Oceanfront — +5.2% (Min 0.0% Max +11.87%)
Lakefront — -5.45% (Min -1.8% Max -7.17%)
Ocean View — -3.47% (Min 0.0% Max -5.96%)
Non-view — -4.83% (Min -4.39% Max – -6.02%)

So, all waterfront properties have increased in assessed values from 4-5% and everything else has dropped in the amounts above. I think this is quite accurate for our market and reflects the current situation. Of course, there were fluctuations in these numbers as shown by the minimum and maximum amounts I have also shown above, but a 3-5% change in values shows a relatively settled market without the massive fluctuation we have experienced in the recent past.


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